While much is being said about TC3 land, the reality is that there is a way forward. Yes, TC3 properties can be sold, and are being sold. Our in-house statistics clearly reinforce this with 39% of our 79 sales between October and December falling into the TC3 category. As I have indicated in the past, by having the right information and a good understanding of just what checks and procedures banks and insurance companies require, the process of securing a mortgage and obtaining insurance can be successfully completed in most instances. Obviously each situation is different and if the perceived risk is high, it is understandable that a bank may be extra cautious or require higher equity levels before lending. I think the other reassuring factor with selling property here in the east is that the local professionals involved with processing these types of property transactions are familiar with the specific requirements to get the sale across the line. I know our own sales team here at the Parklands office have a wealth of experience and we often share experiences and insights that we have picked up along the way, not to forget that a number of us actually own and live on TC3 land.
The bottom line is that the stats clearly prove that there is a way forward and the percentage for these sales is steadily on the increase.
Just a brief reminder…
This Thursday sees the auction of 3 Ascot Avenue – a funky 4 bedroom home/townhouse on a smaller section. The final open home is this Wednesday at 3.30pm.